It's both a world factory and a world market.

| gov.cn

China's trade in goods accounts for more than 11% of the global share, and the inflow of foreign capital ranks second in the world.

It's both a world factory and a world market.

Foreign economy and trade is the link between the domestic economy and the world economy. In the 70 years since the founding of New China, from US $1.13 billion to US $4.6 trillion, China has grown into the largest country in the world's trade in goods, and foreign trade has made a historic leap forward, forming a new pattern of all-round, multi-level and wide-ranging opening up. What is the trend of China's foreign economic and trade development in the new era? And how to further do a good job in foreign trade work? The reporter interviewed people and experts in the industry.

Last year, it exceeded 30 trillion yuan--

Improve the quality and efficiency of trade in goods

For the first time, it broke through the 30 trillion yuan mark, accounting for 11.8% of the global share, which was the high score of China's import and export of goods last year. As far as "quantity" is concerned, can China's trade in goods step up to a new level in the future?

"the scale of China's trade in goods still has room to continue to expand, which is the result of the joint action of imports and exports." Tu Xinquan, director of the China WTO Research Institute at the University of International Business and Economics, said. Looking at imports, China's manufacturing industry is still developing rapidly, and the demand for foreign natural resources and capital goods continues to grow; the consumption power of residents is constantly improving, the consumption demand is becoming more and more diverse, and the demand for foreign consumer goods is also growing rapidly. Looking at the export, the advantage of the whole industrial chain of China's manufacturing industry will be maintained for a period of time, the competitiveness of middle and low-end consumer goods is still strong, and the R & D and production capacity of middle and high-end capital goods and consumer goods are also improving. With the in-depth implementation of the "Belt and Road Initiative" initiative and the free trade zone strategy, the docking between foreign demand and domestic production capacity will be smoother.

Gao Lingyun, a researcher at the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, has the same judgment: "with the increasing national income of our country and the construction of a new pattern of opening up to the outside world at a higher level, the scale of China's import trade in goods will accelerate in the future." However, he also pointed out that it is difficult to maintain a rapid growth rate of export trade in goods in the future, taking into account such factors as the slowing growth of external demand and the rising cost of factors of production in China.

If we look at "quality" again, will the commodity structure of China's trade in goods continue to be optimized and upgraded in the future?

From January to October this year, exports of mechanical and electrical products accounted for 58.3 percent, according to the Ministry of Commerce. Among them, the export of integrated circuits, photovoltaic, excavators, medical devices and other high-quality, high-tech, high value-added products maintain rapid growth.

"structural optimization and upgrading will continue to be carried out at a constant pace. This is reflected in the fact that the main export commodities have gradually shifted from labor-intensive manufactured goods or mechanical and electrical products processed and assembled to intermediate products and capital goods with high added value. At the same time, the export of consumer goods has also changed from contract manufacturing in the past to high-end consumer goods with independent brands and independent design. " Tu Xinquan believes that the mainstream of foreign trade in the future will be the core parts of large-scale machinery and equipment, mechanical and electrical products, high-end fashion, electronic products, and so on.

Gao Lingyun believes that more measures should be taken at the same time to promote quality and efficiency in foreign trade. Track the forefront of technological development and strengthen cooperation with overseas R & D institutions in the fields of technology research and development, standard formulation and product manufacturing of emerging science and technology; Encourage domestic enterprises, especially the manufacturing industry, to accelerate transformation and upgrading, strive to improve the quality, grade and added value of export products, promote the transformation and upgrading of processing trade, and extend to the high end of the industrial chain such as brands, R & D, distribution and settlement centers.

More than 4 trillion yuan in the first three quarters--

Innovation and development of trade in services

At present, trade in services is increasingly becoming a new engine for the development of foreign trade and the deepening of opening to the outside world. What is the development trend of China's service trade in the future?

In the first three quarters of this year, China's total import and export of services exceeded 4 trillion yuan. "in the future, the scale of China's service trade will rise, and its position and proportion in foreign trade will also increase." Luo Libin, vice president of the School of Economics of Beijing second Foreign Studies University, analyzed and pointed out that China's unique national conditions of "medium per capita and second total amount" are likely to give play to both "comparative advantage" and "local market effect advantage" in the development of trade in services.

"the middle level of per capita income" shows that China can undertake some links with comparative advantages in the tide of service globalization and global service outsourcing, and promote service export. In recent years, offshore service outsourcing has accounted for about 70% of emerging service exports. At the same time, the total retail sales of consumer goods in China is the second in the world, and the level is getting closer and closer to the first level. The huge domestic market supports China's local market effect in some productive service areas with obvious economies of scale, and domestic service providers may cultivate international competitiveness in the process of service. For example, some products in the field of mobile payment.

The growing need for a better life also brings opportunities for the development of trade in services. At present, people's needs focus on the transition from availability to quality and diversity. This will attract foreign service providers to enter, bring service imports; and improve the quality of China's service providers and promote service exports in the competition.

In the first September of this year, Chinese enterprises signed service outsourcing contracts worth 886.4 billion yuan, an increase of 4.4 percent, which is one of the bright spots of emerging trade in services. In Gao Lingyun's view, affected by new service demand arising from supply-side structural reform and consumer upgrading, innovation in the application of digital technology, and the introduction of measures to open up new services trade, In the future, China's emerging trade in services is expected to continue to maintain rapid development, become the main force to promote the growth of the overall trade in services, and promote the optimization of the structure of trade in services.

$73 billion in the first half of the year--

Steady growth in the utilization of foreign capital

According to a recent report released by the United Nations Conference on Trade and Development (UNCTAD), China attracted US $73 billion in foreign investment in the first half of 2019, an increase of 4 percent over the same period last year, and continues to become the world's second largest inflow of foreign capital and the largest inflow of foreign capital to developing economies. Will China continue to maintain its strong attraction to foreign investment in the future?

"the scale of introducing foreign investment will continue to expand in the future." Tu Xinquan said: in recent years, China has actively expanded its opening up to foreign capital, worked hard to improve the business environment, and fully implemented the national treatment of foreign-invested enterprises, especially in the service industry, which was relatively cautious in the past. A few days ago, the World Bank released the Global Business Environment report 2020. China's business environment ranks among the top 40 in the world and has been listed as the top 10 economies in optimizing the business environment in the world for the second year in a row. This is a vote of confidence in China's reform, opening up, and economic prospects.

Sang Baichuan, director of the Institute of International Economics and Economics of the University of International Business and Economics, also believes that China has a complete industrial supporting capacity, a huge market scale, a continuously improved intellectual property protection system, and a sound economic system that seeks transformation, upgrading, and high-quality development. It is bound to have a strong attraction to foreign investment, and foreign businessmen will also be optimistic about the prospect of investment in our country for a long time.

Foreign investment is one of the important driving forces of economic development. How to make good use of foreign capital to help China's economy achieve high-quality development in the future?

Gao Lingyun believes that we should adopt a multi-pronged approach to "stabilize foreign investment": distinguish between different types of foreign investment, such as market seeking and factor seeking, and do a good job in classified management because of their policies; We will improve the protection of intellectual property rights in foreign-invested enterprises, do a good job in the formulation of supporting laws and regulations on foreign investment, further promote the granting of greater autonomy in the reform of the free trade experimental area, and continue to shorten the negative list of foreign investment. To further reduce the institutional transaction costs of enterprises, and promote the integration of relevant laws, regulations and policies with international standards, and cultivate a leading international business environment; Expand the negotiation of bilateral or multilateral investment agreements, especially the negotiation or upgrading of trade and investment agreements with the places where Chinese capital flows. (reporter Qi Zhiming)

It's both a world factory and a world market.

| gov.cn

China's trade in goods accounts for more than 11% of the global share, and the inflow of foreign capital ranks second in the world.

It's both a world factory and a world market.

Foreign economy and trade is the link between the domestic economy and the world economy. In the 70 years since the founding of New China, from US $1.13 billion to US $4.6 trillion, China has grown into the largest country in the world's trade in goods, and foreign trade has made a historic leap forward, forming a new pattern of all-round, multi-level and wide-ranging opening up. What is the trend of China's foreign economic and trade development in the new era? And how to further do a good job in foreign trade work? The reporter interviewed people and experts in the industry.

Last year, it exceeded 30 trillion yuan--

Improve the quality and efficiency of trade in goods

For the first time, it broke through the 30 trillion yuan mark, accounting for 11.8% of the global share, which was the high score of China's import and export of goods last year. As far as "quantity" is concerned, can China's trade in goods step up to a new level in the future?

"the scale of China's trade in goods still has room to continue to expand, which is the result of the joint action of imports and exports." Tu Xinquan, director of the China WTO Research Institute at the University of International Business and Economics, said. Looking at imports, China's manufacturing industry is still developing rapidly, and the demand for foreign natural resources and capital goods continues to grow; the consumption power of residents is constantly improving, the consumption demand is becoming more and more diverse, and the demand for foreign consumer goods is also growing rapidly. Looking at the export, the advantage of the whole industrial chain of China's manufacturing industry will be maintained for a period of time, the competitiveness of middle and low-end consumer goods is still strong, and the R & D and production capacity of middle and high-end capital goods and consumer goods are also improving. With the in-depth implementation of the "Belt and Road Initiative" initiative and the free trade zone strategy, the docking between foreign demand and domestic production capacity will be smoother.

Gao Lingyun, a researcher at the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, has the same judgment: "with the increasing national income of our country and the construction of a new pattern of opening up to the outside world at a higher level, the scale of China's import trade in goods will accelerate in the future." However, he also pointed out that it is difficult to maintain a rapid growth rate of export trade in goods in the future, taking into account such factors as the slowing growth of external demand and the rising cost of factors of production in China.

If we look at "quality" again, will the commodity structure of China's trade in goods continue to be optimized and upgraded in the future?

From January to October this year, exports of mechanical and electrical products accounted for 58.3 percent, according to the Ministry of Commerce. Among them, the export of integrated circuits, photovoltaic, excavators, medical devices and other high-quality, high-tech, high value-added products maintain rapid growth.

"structural optimization and upgrading will continue to be carried out at a constant pace. This is reflected in the fact that the main export commodities have gradually shifted from labor-intensive manufactured goods or mechanical and electrical products processed and assembled to intermediate products and capital goods with high added value. At the same time, the export of consumer goods has also changed from contract manufacturing in the past to high-end consumer goods with independent brands and independent design. " Tu Xinquan believes that the mainstream of foreign trade in the future will be the core parts of large-scale machinery and equipment, mechanical and electrical products, high-end fashion, electronic products, and so on.

Gao Lingyun believes that more measures should be taken at the same time to promote quality and efficiency in foreign trade. Track the forefront of technological development and strengthen cooperation with overseas R & D institutions in the fields of technology research and development, standard formulation and product manufacturing of emerging science and technology; Encourage domestic enterprises, especially the manufacturing industry, to accelerate transformation and upgrading, strive to improve the quality, grade and added value of export products, promote the transformation and upgrading of processing trade, and extend to the high end of the industrial chain such as brands, R & D, distribution and settlement centers.

More than 4 trillion yuan in the first three quarters--

Innovation and development of trade in services

At present, trade in services is increasingly becoming a new engine for the development of foreign trade and the deepening of opening to the outside world. What is the development trend of China's service trade in the future?

In the first three quarters of this year, China's total import and export of services exceeded 4 trillion yuan. "in the future, the scale of China's service trade will rise, and its position and proportion in foreign trade will also increase." Luo Libin, vice president of the School of Economics of Beijing second Foreign Studies University, analyzed and pointed out that China's unique national conditions of "medium per capita and second total amount" are likely to give play to both "comparative advantage" and "local market effect advantage" in the development of trade in services.

"the middle level of per capita income" shows that China can undertake some links with comparative advantages in the tide of service globalization and global service outsourcing, and promote service export. In recent years, offshore service outsourcing has accounted for about 70% of emerging service exports. At the same time, the total retail sales of consumer goods in China is the second in the world, and the level is getting closer and closer to the first level. The huge domestic market supports China's local market effect in some productive service areas with obvious economies of scale, and domestic service providers may cultivate international competitiveness in the process of service. For example, some products in the field of mobile payment.

The growing need for a better life also brings opportunities for the development of trade in services. At present, people's needs focus on the transition from availability to quality and diversity. This will attract foreign service providers to enter, bring service imports; and improve the quality of China's service providers and promote service exports in the competition.

In the first September of this year, Chinese enterprises signed service outsourcing contracts worth 886.4 billion yuan, an increase of 4.4 percent, which is one of the bright spots of emerging trade in services. In Gao Lingyun's view, affected by new service demand arising from supply-side structural reform and consumer upgrading, innovation in the application of digital technology, and the introduction of measures to open up new services trade, In the future, China's emerging trade in services is expected to continue to maintain rapid development, become the main force to promote the growth of the overall trade in services, and promote the optimization of the structure of trade in services.

$73 billion in the first half of the year--

Steady growth in the utilization of foreign capital

According to a recent report released by the United Nations Conference on Trade and Development (UNCTAD), China attracted US $73 billion in foreign investment in the first half of 2019, an increase of 4 percent over the same period last year, and continues to become the world's second largest inflow of foreign capital and the largest inflow of foreign capital to developing economies. Will China continue to maintain its strong attraction to foreign investment in the future?

"the scale of introducing foreign investment will continue to expand in the future." Tu Xinquan said: in recent years, China has actively expanded its opening up to foreign capital, worked hard to improve the business environment, and fully implemented the national treatment of foreign-invested enterprises, especially in the service industry, which was relatively cautious in the past. A few days ago, the World Bank released the Global Business Environment report 2020. China's business environment ranks among the top 40 in the world and has been listed as the top 10 economies in optimizing the business environment in the world for the second year in a row. This is a vote of confidence in China's reform, opening up, and economic prospects.

Sang Baichuan, director of the Institute of International Economics and Economics of the University of International Business and Economics, also believes that China has a complete industrial supporting capacity, a huge market scale, a continuously improved intellectual property protection system, and a sound economic system that seeks transformation, upgrading, and high-quality development. It is bound to have a strong attraction to foreign investment, and foreign businessmen will also be optimistic about the prospect of investment in our country for a long time.

Foreign investment is one of the important driving forces of economic development. How to make good use of foreign capital to help China's economy achieve high-quality development in the future?

Gao Lingyun believes that we should adopt a multi-pronged approach to "stabilize foreign investment": distinguish between different types of foreign investment, such as market seeking and factor seeking, and do a good job in classified management because of their policies; We will improve the protection of intellectual property rights in foreign-invested enterprises, do a good job in the formulation of supporting laws and regulations on foreign investment, further promote the granting of greater autonomy in the reform of the free trade experimental area, and continue to shorten the negative list of foreign investment. To further reduce the institutional transaction costs of enterprises, and promote the integration of relevant laws, regulations and policies with international standards, and cultivate a leading international business environment; Expand the negotiation of bilateral or multilateral investment agreements, especially the negotiation or upgrading of trade and investment agreements with the places where Chinese capital flows. (reporter Qi Zhiming)






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